Page 88 - OneVue Annual Report 2015

Notes to the financial statements

Note 39. Share-based payments (continued)

Employee Option Plan (continued)
2014

Grant date Expiry date Exercise Balance at Granted Exercised Expired/ Balance at
price the start of forfeited/ the end of

the year other the year

Jan–June 10 31/12/2014 $0.25 4,795,151 - (4,795,151) --
01/03/2014 31/12/2014 $0.26 - 1,809,396 (1,809,396) --
01/03/2014 25/01/2016 $0.35 - - 562,500
21/05/2014 21/05/2015 $0.26 - 562,500 - --
21/05/2014 21/05/2016 $0.26 - 85,878 (85,878) --
85,878 (85,878) - 562,500
4,795,151 (6,776,303)
2,543,652

Weighted average exercise price $0.25 $0.28 $0.25 $0.00 $0.35

As part of the IPO process the options held by management were exercised in May 2014. Per the terms of the
exercising of the options OneVue is providing an interest free limited recourse loan for former employees for 1 year
and current employees for 3 years which is repayable upon selling the shares. This loan is based on the exercise
price of the initial options at 25 cents per unit, total value $1.2 million. There is no service period required and the
current employees are entitled to these shares whether or not they remain with OneVue Holdings Limited for the 3
year period. The fair value of the limited recourse loans was determined using the same valuation and inputs as
options granted during the current financial year.

The weighted average remaining contractual life of options outstanding at the end of the financial year was 0.6
years (2014: 1.5 years).

Note 40. Summary of significant accounting policies

This note provides a list of all significant accounting policies adopted in the preparation of these consolidated
financial statements. These policies have been consistently applied to all the years presented, unless otherwise
stated. The financial statements are for the group consisting of OneVue Holdings Limited and its subsidiaries.

Basis of preparation

These general purpose financial statements have been prepared in accordance with Australian Accounting
Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') and the Corporations
Act 2001, as appropriate for for-profit oriented entities. These financial statements also comply with International
Financial Reporting Standards as issued by the International Accounting Standards Board ('IASB').

Going concern

The financial report has been prepared on a going-concern basis. This contemplates continuity of normal business
activities and the realisation of assets and settlement of liabilities in the ordinary course of business even though
OneVue has experienced operating losses after tax during the financial year ended 30 June 2015 of $0.22 million
(2014: $5.24 million) with accumulated losses amounting to $22.27 million as at 30 June 2015 and net current
assets $6.98 million (2014: net current liabilities of $0.92 million).

88 - ONEVUE ANNUAL REPORT 2015